Matador initiated with a Neutral at UBS

UBS initiated coverage of Matador (MTDR) with a Neutral rating and $47 price target The firm sees the company’s growth through consolidation, improving capital efficiency, 90% dividend growth since Q1 of 2021, and San Mateo optionality as the key positives. However, these are reflected in the stock’s valuation, the analyst tells investors in a research note. UBS believes the lower crude oil price environment will limit a re-rating of the shares.